Oil producers in the Permian appear to be worried that key pipeline projects to boost takeaway capacity from the region might not hit their 2019 targeted start-up dates. Oil producers in the Permian Basin appear to be worried that key pipeline projects to boost takeaway capacity from the region might not hit their 2019 targeted start-up dates. That is the conclusion of Wood Mackenzie analysts, who in a new report observe that Permian producers increased their 2020 oil-basis hedge positions by 431 percent – or 175,000 barrels per day – during the second quarter of this year. “It was an anomalously high trading volume for this particular hedging derivative,” Andrew McConn, corporate research analyst at Wood Mackenzie, said in a written statement Tuesday regarding the 2020 Midland to Cushing WTI discount (Mid-Cush basis-swaps). “The only reasonable conclusion one can draw from this surge is that Permian producers are concerned […]